Valvetrain complete, but a few ???'s
I know what you mean, in most cases to have something that is overkill or more than you need doesn't or shouldn't hurt, like I have been known to say, "you can't have to much money or horsepower". This is one of those exceptions to the rule and the main reason it does not work well is because of the wet sump oil pump. The oil has to travel the length of all that hose until it reaches the motor and by looking at your setup it looks like about 10-12 ft of hose alone. The ideal setup is to have it pass thru the filters and last the cooler after it has gone thru the motor. This is exactly what happens with a dry sump setup. This won't work with a wet sump because the return is all of the oil bleeding back to the pan thru all of the clearances. If you could put your filter and cooler at or below the oil level you would be fine on the drain back but would still have to push the oil thru all of the lines.
If you want the added cooling you can probably keep the oil cooler because it looks like it is about oil level height.